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Industry income


Long-term strategic partnerships focus the university’s creativity and talent on enabling future innovations that can be taken to market by industry and deliver benefits to society within five to 10 years. Partnerships between the industry and universities can accelerate innovation and deliver solutions to critical social and economical challenges. Collaborating with industry should be linked to a redefinition of the role of the research; designed to support the stages of converting research outputs into a commercial proposition.

  • Support for Technology Development.

  • In order to further advance research outputs from laboratory scale to pilot scale and beyond, projects drawing on knowledge gained from basic and applied research and/or practical experience, should be directed towards.

     

    • Development and manufacture of new and innovative materials by amalgamating Sri Lankan natural product formulations, indigenous medicine, cosmeceuticals and food varieties as consumables with scientific findings.

    • New and efficient process and business model development, licensing and venturing to combine resources, ideas and technologies.

    • Substantially improve process systems and services of those already produced or installed (experimental development).

    • Novel technological improvements in applications in remediation, water purification, analytics, and food processing.

    • Service-based investigations that allow definitive diagnosis of patients, influence therapy and allow monitoring of therapeutic effectiveness.

  • Start-up provisions towards projects based on novel technologies through seed investments.

  • Provide opportunities for researchers to start-up businesses/companies by using university/institute based novel technologies and aligning technology creators, industry, entrepreneurs and capital sources.

     

    • An income tax concession of a triple deduction will be offered in relation to Research & Development expenditure undertaken by an enterprise with public sector partnership (as published by the National Research Council of Sri Lanka. http://www.nrc.gov.lk/images/stories/add_25_April.pdf.